NJ High Court Won't Hear Madoff Funds' KPMG Appeal

Law360, New York (October 21, 2013, 4:26 PM EDT) -- The Supreme Court of New Jersey declined Friday to take up a malpractice suit filed by four feeder funds that were drained by Bernard Madoff's Ponzi scheme due to KPMG LLC's alleged negligence, leaving arbitration as the only option for settling the dispute.

In an order signed Oct. 15 but released Friday, the Supreme Court denied an appeal filed by Sandalwood Debt Fund A LP, Sandalwood Debt Fund B LP, Hudson Investment Partners LP and Oxbridge Associates LP, funds that fed into hedge funds managed by...
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